Why is the trade term important

Trade clauses

Commercial customs, usages, Incoterms, cif, fob

Agreements in business life that regulate the rights and obligations of the contractual partners in the form of abbreviations for shipping, delivery, payment, liability in the event of loss or damage; sometimes as Commercial customs or Usages designated. Is z. B. agreed in the contract "free domicile", the supplier has to bear all transport costs to the customer, he is also liable for the proper delivery to the customer.

Essential trade clauses in foreign trade are the Incoterms, Abbreviation for International Commercial Terms, which were created by the International Chamber of Commerce in Paris in 1936 and revised several times. They ensure the uniform and clear interpretation of the delivery conditions in particular. Well-known contractual conditions are about cif, Abbreviation for cost, insurance, freight, d. In other words, the seller bears costs and freight to the port of destination, including the risk of loss or damage to the goods up to there, or fob, Abbreviation for free on board, d. In other words, the seller has to bear the costs and risks of the goods until they are on board in the port of shipment.

Duden Wirtschaft from A to Z: Basic knowledge for school and study, work and everyday life. 6th edition. Mannheim: Bibliographisches Institut 2016. Licensed edition Bonn: Federal Agency for Civic Education 2016.